LendingClub (NYSE:LC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of LendingClub (NYSE:LC) from a sell rating to a hold rating in a report issued on Saturday.

Other research analysts have also issued research reports about the company. Piper Sandler set a $15.50 target price on LendingClub and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods boosted their target price on LendingClub from $14.00 to $16.50 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Citigroup began coverage on LendingClub in a research report on Monday, July 7th. They set a “market perform” rating for the company. Stephens assumed coverage on LendingClub in a research report on Thursday, June 12th. They set an “overweight” rating and a $15.00 target price for the company. Finally, Citizens Jmp assumed coverage on LendingClub in a report on Monday, July 7th. They issued a “market perform” rating for the company. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.57.

LendingClub Trading Up 3.0%

LC opened at $16.06 on Friday. The firm has a market cap of $1.83 billion, a P/E ratio of 25.09 and a beta of 2.46. LendingClub has a 12 month low of $7.90 and a 12 month high of $18.75. The stock has a 50-day moving average of $11.93 and a 200 day moving average of $11.76.

LendingClub (NYSE:LC) last released its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.15 by $0.18. The company had revenue of $248.44 million during the quarter, compared to analyst estimates of $227.04 million. LendingClub had a return on equity of 5.66% and a net margin of 8.36%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $0.13 earnings per share. On average, research analysts forecast that LendingClub will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Andrew Labenne sold 17,955 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $16.65, for a total value of $298,950.75. Following the completion of the transaction, the chief financial officer owned 178,111 shares of the company’s stock, valued at $2,965,548.15. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of the business’s stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $12.98, for a total transaction of $68,145.00. Following the completion of the transaction, the chief executive officer directly owned 1,283,175 shares of the company’s stock, valued at $16,655,611.50. This trade represents a 0.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,205 shares of company stock valued at $601,561 in the last three months. 3.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LendingClub

Large investors have recently bought and sold shares of the business. Quarry LP increased its position in shares of LendingClub by 1,427.2% during the first quarter. Quarry LP now owns 2,810 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 2,626 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of LendingClub during the first quarter worth $35,000. Comerica Bank acquired a new position in shares of LendingClub during the fourth quarter worth $37,000. Sterling Capital Management LLC increased its position in shares of LendingClub by 818.6% during the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider’s stock worth $57,000 after purchasing an additional 3,119 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of LendingClub by 150.6% during the fourth quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 2,448 shares in the last quarter. Institutional investors own 74.08% of the company’s stock.

LendingClub Company Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.